• PAYDAY, a Tunisian fintech and insurtech startup, has closed its first pre-seed financing round, led by UGFS North Africa, with participation from TALYS Group and BioProtection SA at a valuation of $3 million.
• Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY connects Insurers, banks and employers to empower low- and medium-income workers with financial solutions, thus helping them increase productivity and improve their financial stability through a fully digital solution.
• PAYDAY aims to become a regional reference platform for financial wellness and inclusive protection.

Press release:

PAYDAY, a Tunisian fintech and insurtech startup, has announced the closing of its first pre-seed financing round led by UGFS North Africa (United Gulf Financial Services), with participation from TALYS Group and BioProtection SA.

This funding round, valuing the company at $3 million, represents a significant milestone in PAYDAY’s growth trajectory. The startup combines salary-backed financing and micro-Takaful protection to foster financial well-being and inclusion across Tunisia and beyond.

“This new round of funding brings together a venture capitalist, a leading technology player, and a strong industrial group,” said Dr. Mohamed Anouar Gadhoum, Co-founder and CEO of PAYDAY Takaful. “This alliance strengthens PAYDAY’s ability to develop its services and ensure the scalability of this innovative solution, serving businesses and their employees.”

Since its launch in 2024, PAYDAY has recorded over 10,000 transactions, representing a volume exceeding 8.2 million Tunisian dinars, validating the effectiveness of its financial model.

Building on this momentum, PAYDAY is expanding into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to offer inclusive services not only to businesses but also to employees and individuals directly.

Through this evolution, PAYDAY aims to become a regional benchmark platform for financial well-being and inclusive protection, contributing to a more accessible and resilient financial ecosystem in North Africa.